This news is classified in: Sustainable Energy Hydrogen Fuel
May 4, 2022
When it comes to green hydrogen, Bosch is stepping on the gas: in the interest of effective climate action, the company is planning not only to use this new fuel, but also to be one of the companies producing it. This is why Bosch is branching out into the development of components for electrolyzers, which use electrolysis to split water into hydrogen and oxygen.
Ideally, the electricity for this purpose is generated from renewable sources such as wind or photovoltaic power, in which case the result is known as “green hydrogen”. “We cannot afford to delay climate action any longer, so we aim to use Bosch technology to support the rapid expansion of hydrogen production in Europe,” said Dr. Stefan Hartung, chairman of the board of management of Robert Bosch GmbH, at the presentation of the company’s annual figures . “To do this, we will leverage our know-how in fuel-cell technology,” added Dr. Markus Heyn, member of the board of management of Bosch and chairman of the Mobility Solutions business sector. Drawing on this expertise, Bosch will assign the development of electrolyzer components to the Mobility Solutions business sector, investing up to 500 million euros in this venture by the end of the decade. In light of energy diversification, the move away from fossil fuels, and the need to reduce CO2 emissions, demand for green hydrogen is growing rapidly – not only in energy-intensive industries such as steel, chemicals, and heavy-duty freight, but also in private real estate.
According to the EU, demand is set to rise to some ten million metric tons a year by 2030. Bosch forecasts that the global market for electrolyzer components will increase to a volume of around 14 billion euros over the same period, with Europe set to see the highest rates of growth. To help business and society reduce dependency on fossil fuels and harness new forms of energy, Bosch intends to invest some three billion euros in climate-neutral technology, such as electrification and hydrogen, over the next three years.
Market forecasts by Region, Technology, Service, Platform, Range, Guidance System, and End-User. Market and Technology Overview, Opportunity and COVID-19 Analysis, and Leading Company Profiles
Published: December 2020 - Pages: 374 pagesDownload free sample pages